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Answer Posted / adinarayana
profit & loss a/c contains Indirect incomes and expences.
brod down Gross Profit on debit side. All Indirect incomes
write on credit side and all Indirect expencess are write
on debit side. Finaly they showed balance. If the balance
on debit side it is a Net profit and credit side it is a
Net loss. Theses balances taken into the Balance Sheet.
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